Coin Landry-Rev $339K Net $156K Ask $650K, Panorama

Panorama City, CA (Los Angeles County)

Coin Landry-Rev $339K Net $156K Ask $650K, Panorama

Asking Price:$650,000

Cash Flow:$155,820

Gross Revenue:$339,000




Rate/Sq. Ft.:$1.33


Coin Landry-Rev $339K Net $156K Ask $650K, Panorama

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Business Description

Coin laundromat with newer equipment,18 year-long term lease leftover with reasonable gross rent of $5,300 (NO NNN charge), extra income and plenty of parking spaces, yet a decent net income reaches to $12,985 per month.
Close to 101 Fwy and 170 Fwy

Detailed Information

Real Estate:
Building Sq. Ft.:
Lease Expiration:
2 PT
Well established & well operating coin laundromat located in a high density area of residential and apartment homes. The highlights of operation and financials prepared for on a basis of month shown as follows; (1) Gross sales per month are $28,250 whose gross sales are consisted of • $24,500 from washer & dryer • $2,800 from soup sold • $1,200 from vending machine (snacks, sodas) (2) Net profit per month is $12,985 (3) Rent payment per month is $5,300 including NNN charge and $150 rent payment to be increased every two years (4) Long term 18-year Gross Lease (NO NNN) remains on the current lease (5) Store size is approx. 4,000 sqft (6) Utility bills per month approximated between $6,200 and $6,400 (7) Pay checks for attendant/Janitor are approximated $2,000 (8) Current open hours are 6:30 am to 10 pm seven (7) days a week (9) Almost brand new equipment installed in recent years (Dryers) • 20 units Electrolux 20 lb Dryers • 10 units Electrolux 50 lb Dryers • 5 units Wascomat Dryers (Washers) • 4 units SQ 80 lb. – price/load at $7.00 • 6 units SQ 60 lb. – price/load at $5.00 • 15 units SQ 40 lb - price/load at $4.00 • 16 units SQ 30 lb. – price/load at $3.25 • 8 units SQ 20 lb - price/load at $2.25 • 12 units SQ Top Load - price/load at $1.50 (10) Good parking (11) Operating expenses • $70 for Trash • $200 for insurance • $200 for Property Tax • $500 for Vending Cost • $150 for Parts and Maintenance • $35 for Alarm Security (12) This is not a franchise (13) Highlights • Newer Equipment • Long Term 18 years Gross Lease • Nice location in high density area • Extra Income - Dry Cleaner, Vending, Kiddy Ride, Soaps, Video Game
Support & Training:
2 weeks to be trained after closing
Reason for Selling:
No like business

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Kevin (Yong) Kim

Business Listed By:
Kevin (Yong) Kim

Bee Realty Group

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